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Venus Metals and Rox Resources confirm gold discovery at Sovereign

The discovery was made in recent months after investigating a magnetic low anomaly, more sampling and drilling is being planned.

Venus Metals Corporation Ltd - Venus Metals and Rox Resources confirm gold discovery at Sovereign
Aircore drilling in operation on site at the Youanmi Gold Project

Venus Metals Corporation Ltd (ASX:VMC) and Rox Resources Ltd (ASX:RXL) have received additional drilling results from the Sovereign Prospect within their Youanmi Gold Project in WA.

Reverse circulation (RC) drilling followed up on recent aircore results and additional aircore drilling has extended the gold mineralisation along strike to the south.

RC drilling highlights from these latest results feature 3 metres at 6.61 g/t gold from 78 metres and aircore highlights feature 8 metres at 1.92 g/t gold from 28 metres.

The discovery of shallow gold mineralisation, also associated with base metals, is encouraging and deeper drilling is planned to further explore this newly identified zones.

Looking for Penny West style high-grade gold

To find Sovereign, Venus and Rox used old airborne magnetic data that showed magnetic lows near the Penny West gold deposit and the Columbia-Magenta prospects.

The magnetic feature also extended to what is now the Sovereign Prospect where sampling showed lead and other base metals indicating the presence of high-grade gold at depth similar to Penny West and Currans North.

Aircore drilling in October 2019 intersected 4 metres at 7.02 g/t gold from 24 metres and 5 metres at 2.41 g/t gold from 60 metres confirming the presence of gold.

In early November three RC holes were drilled for 310 metres, which delivered today’s results confirming the presence of significant gold.

Ten aircore holes for 716 metres were also drilled in 50-metre spaces in two lines on either side of the RC holes as per the picture below.

RC hole YSRC005 intersected 3 metres at 6.61 g/t gold from 78 metres including 1-metre at 11.61 g/t gold from 79 metres and 3 metres at 1.98 g/t gold from 61 metres.

This hole was following up aircore hole VRAC151, which encountered the 4 metres at 7.02 g/t gold from 24 metres and 5 metres at 2.41 g/t gold from 60 metres to end-of-hole.

The yellow dots represent the recent aircore holes where significant levels of gold were intersected in two holes to the south of the RC holes.

VRAC173 intersected 8 metres at 1.92 g/t gold from 28 metres.

VRAC172 intersected three separate 4-metre intervals from 52 metres grading from 0.26 g/t gold to 0.49 g/t gold.

Further drilling and sampling planned

High-resolution aeromagnetic data has been obtained showing magnetic lows in the area of the newly discovered gold mineralisation.

These magnetic lows, extending further to the north and south for a total length of 1.2 kilometres will be the focus of further drilling and geochemical soil sampling programs.

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